Received an order worth Rs 3000 crore from BSNL
Inder Jaisinghani, chairman of Polycab India, has a net worth of Rs 13,918 crore. Starting as a trading firm in 1986, Polycab now manufactures cables, wires, and more. The company recently secured a Rs 3,003 crore contract from BSNL for Bharat Net in Bihar, further boosting its growth prospects.
Inder Jaisinghani's total wealth is Rs 13,918 crore. He started the Polycab company as a trading firm in 1986, and today its market cap is Rs 13,918 crore. Inder Jaisinghani is one of the well-known personalities in the business world. He is the chairman and director of Polycab India, a leading company in India in the field of cable and wire manufacturing. The company said in an exchange filing on Thursday, March 13, that it has received an order of about Rs 3,003 crore from BSNL for Bharat Net in Bihar telecom circle.
This is how the company was started
The market cap of Polycab India is currently 10,000. On Thursday, the company's share closed at Rs 5,000. Let us tell you that Jaisinghani started the company as a trading firm in 1986. In 2014, Polycab also started manufacturing products like electric fans, LED lighting, switches, and switchgear.
This is the net worth of Jaisinghani
According to Forbes, Jaisinghani currently has assets worth Rs 13,918 crore. 71-year-old Jaisinghani is currently ranked 2059th in the list of the world's billionaires. He was appointed chairman and director of Polycab on 20 December 1997. After this, he was again appointed to the same post on 28 August 2019. His company went public in 2019. Due to increasing electrification and increased spending in the power sector, the company's shares rose from 2022. In 2008, International Finance Corporation (IFC), a unit of the World Bank Group, bought its stake in the company.
BSNL contract with Polycab
The project has a construction period of three years. This will be followed by a 10-year maintenance contract. The maintenance cost for the first five years will be 5.5 percent of the capital expenditure per year, while for the next five years this amount has been fixed at 6.5 percent per year. This contract includes capital expenditure of Rs 1,549.66 crore, operational expenditure of Rs 929.79 crore, and operational expenditure of Rs 523.53 crore for the existing network, thus the total expenditure will be Rs 3,002.99 crore.
For more details about Polycab's achievements and updates, visit Business Vaartha. You can also read more about it in the Vaartha ePaper.
What's Your Reaction?
